The technology of Augmented Reality is taking on an increasingly important role in the digital (and green) transformation of industry, including shipbuilding. Upgraded to the three-dimensional ship model in the form and content of a Digital Twin, (industrial) Augmented Reality contributes to the activities of sale and marketing, development, and design, as well as production and maintenance. Recognizing its leading potential in creating the configuration of Shipyard 4.0, research on the further applicability of Augmented Reality in shipbuilding processes, with an emphasis on outfitting activities, was initiated in collaboration between industry and universities. This paper describes the course of the research, i.e., the development of an Augmented Reality application supportive of the shipbuilding process. The authors emphasize the possibility of achieving savings in shipbuilding project realization by implementing the Augmented Reality application according to the conducted proof of concept, thus contributing to shipbuilding system competitiveness improvement.